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Is it possible for ratings agencies to do the job the market-worshipping regulatory bodies think they can do?

It doesn't matter whether they're public or private or you make them compete in some way or other. They're unfit for the purpose the Baasel Committee wrote for them in the regulation.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Mon Apr 26th, 2010 at 08:33:20 AM EST
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